Metrics reveal Ripple’s newly minted stablecoin, RLUSD, has eclipsed the $100 million threshold mere weeks after its mid-December 2024 debut.

RLUSD Supply Climbs to 108M

As of Feb. 12, 2025, the broader stablecoin arena boasts a valuation of $224.367 billion. While RLUSD’s slice of this financial pie remains extremely modest, its trajectory shows steady momentum, now claiming 108.66 million tokens distributed across two distinct blockchain networks.

Introduced by Ripple Labs in late 2024, the dollar-anchored asset’s goal is to streamline cross-border transactions by tethering digital finance to traditional monetary stability. RLUSD’s dual-chain architecture—spanning Ethereum and the XRP Ledger—aims to serve as a catalyst for rapid integration into the world of decentralized finance (defi).

The dollar-linked stablecoin, RLUSD, saw 72 million tokens enter circulation by late December 2024, with its total supply leaping 51% in the weeks that followed. As of now, the token’s cumulative circulation sits at 108 million, of which 83.33 million tokens reside on Ethereum’s blockchain—leaving a modest yet noteworthy 24.67 million minted on the XRP Ledger.

Though XRP Ledger’s contribution appears less prolific, its activity is vividly charted via analytics from the Ripple Stablecoin Tracker X account, which demystifies its blockchain-specific footprint with real-time transparency. With the 83.33 million RLUSD coins issued on Ethereum, 1,451 addresses are holding the coin.

It has only seen 5,267 transfers on that specific chain, and the top 100 wallets collectively own 99.88% of the 83,236,412.40 RLUSD tokens. RLUSD’s growth, while promising, reflects a nuanced reality: Ethereum’s dominance highlights traction, yet XRP Ledger’s minimal footprint questions cross-chain parity. High ownership concentration further shows the distribution for this stablecoin still reeks of the initial stages.